Midweek Cash Markets | July 20, 2022

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CORN COMMENTS

The national average corn basis inched 1/4 cent higher to 88 1/4 cents above September futures. The national average cash corn price dropped 6 1/2 cents to $6.80 1/2.

Basis is much better than the three-year average of 38 1/2 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 23 1/4 cents but is still 61 3/4 cents above August futures. The national average cash price dropped 12 1/2 cents to $15.10 3/4.

Basis is much better than the three-year average of 7 1/4 cents above futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 3 cents to 44 cents under September futures. The average cash price firmed 11 3/4 cents to $7.75 1/2. SRW basis is much weaker than the three-year average of 5 1/4 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 3/4 cent to 44 1/2 cents below September futures. The average cash price firmed 9 cents to $8.26. HRW basis is much weaker than the three-year average of 22 1/2 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $142.12 last week, down $2.23 from the previous week. This week’s cash trade has occurred at steady to weaker prices. Last year at this time, the cash price was $120.77.

Choice boxed beef firmed $2.48 over the past week to $270.53. Last year, Choice boxed beef prices were $265.24.

HOG COMMENTS

The average lean hog carcass price firmed $3.77 over the past week to $114.08. Last year’s lean carcass price on this date was $109.38.

The pork cutout value firmed $6.09 over the past week to $124.37. Last year at this time, the cutout price stood at $122.09.